What is SI, CSR and ESG?
A Quick Guide
Navigate the various terms and acronyms within business with this quick guide on SI, CSR and ESG. Whilst there is some overlap between these terms, there are some differences that set them apart, as defined below.
Social Impact (SI)
The definition of social impact means any significant or positive changes that solve or address social injustice and challenges. Businesses achieve social impact through conscious and deliberate efforts/activities in their operations.
Corporate Social Responsibility (CSI)
This is a form of self-regulation, reflecting a company’s accountability and commitment in contributing to their community and society through environmental and social measures. Companies practising CSR actively operate in ways that enhance society and the world around them and are more conscious of the impact they are having.
Environmental, Social and Governance (ESG)
These are a set of standards that are used to measure the sustainability and ethical impact of an investment within a business/company.
Environmental: the impact the company has on the environment.
Social: the company’s relationships, including with employees, customers, suppliers, and the local community.
Governance: the company’s leadership, shareholder rights, audits, internal controls etc.
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